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Vietnam and Thailand are  the  top  two rice exporters who contribute more  than 50 per cent of market  shares  in  the  international market. Therefore, any  changes  in  their  rice policies have a strong influence on the world market. Currently, one of the strongest and most often impacts on the Vietnamese rice industry is the  Price Controls  Policy  that  regulates  the  competition  in  rice market.  It  restricts  the volume  of  r  rice  export  in  order  to  ensure  national  food  security.  This  policy  keeps Vietnamese  rice production under  its  full potential  compared with  the  rice  industry  in Thailand.  Many  experts  suggest  that  Vietnam  pays  more  attention  on  national  food security  than  necessary.  This  causes  market  distortion  and  weakens  Vietnam’s competitiveness with Thailand. In order to examine the effects of the Price Controls Policy with a quantitative method, we build and run a spatial equilibrium model with 3 different scenarios: (1) Price Controls Policy  updated  every  week;  (2)  Price  Controls  Policy  updated  every month;  (3)  Price Controls  Policy  updated  quarterly.  Base  on  the  available  data  of  production, consumption, domestic price, transportation cost and elasticities of demand and supply function of Vietnamese and Thai rice industry, the model shows the following result. With less changes  in the Price Control policy, the competitiveness  in terms of export quantity of the Vietnamese rice on international markets rises without having negative effects on the national food security goal. Non‐rice farmers will be  in disadvantage position due to higher domestic prices for rice, but the majority of the population who are rice farmers, accounting  for more  than  70  per  cent  of  the  population, will  benefit  from  the  higher volume  and  turnover  of  rice  export,  and  so  the  net  social  revenue will  increase  also. Therefore, we highly recommend that the Price Controls Policy should not be revised on regular to serve the purpose of achieving better competitiveness of Vietnamese rice

Rice Price Controls Policy of Vietnam and its competition with Thailand